18:13 / 13.07.2021.

Author: Domagoj Ferenčić

EU finance ministers endorse first 12 recovery plans

Croatian Finance Minister Zdravko Marić

Croatian Finance Minister Zdravko Marić

Foto: Screenshot / HRT

The EU's Economic and Financial Affairs Council (ECOFIN) on Tuesday signed off on the 12 National Recovery and Resilience Plans (NRRP). All had previously been given the green light from the European Commission. The 12 NRRP’s adopted today were those from Austria, Belgium Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain.

Italy is getting the largest chunk of the plans approved on Tuesday, some 191.5 billion euros of grants and low-interest, of the 750-billion-euro Next Generation EU COVID-19 recovery fund for its NRRP. Economy Commissioner Paolo Gentiloni called it an important day: "It is the real start of the Recovery Plan and the Next Generation EU program. The pre-financing will arrive in these 12 countries in the coming weeks and I think it is important that final approval comes exactly when the recovery is taking place because it will strengthen confidence in the markets and in the countries and it will make it possible for investments and reforms to start."

Speaking ahead of the ECOFIN meeting, Croatia’s Deputy Prime Minister and Finance Minister Zdravko Marić announced that he expects Croatia's plan to be approved at the council's next meeting on July 27th. For Croatia this means an advance of more than 800 million Euros.

"I'm sure that we all agree that the most important topic at the meeting is the approval of the Recovery and Resilience Plans of the first batch of 12 countries. I'm also very happy to announce that my country, Croatia, will be in the next group of countries. So, by the end of July Croatia's Recovery and Resilience Plan, should be adopted."

Source: HRT

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